Centerspace (NYSE:CSR) Hits New 12-Month Low - Time to Sell?

Centerspace (NYSE:CSR - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $55.49 and last traded at $57.10, with a volume of 3560 shares changing hands. The stock had previously closed at $57.67.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CSR. Wells Fargo & Company initiated coverage on shares of Centerspace in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $68.00 price objective on the stock. Janney Montgomery Scott raised shares of Centerspace from a "neutral" rating to a "buy" rating and set a $72.00 price objective for the company in a research note on Wednesday, January 15th. UBS Group assumed coverage on shares of Centerspace in a research report on Monday, April 7th. They issued a "neutral" rating and a $67.00 target price on the stock. BMO Capital Markets upgraded shares of Centerspace from a "market perform" rating to an "outperform" rating and set a $77.00 price target for the company in a research report on Friday, April 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Centerspace from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $73.30.

Centerspace Stock Up 0.6 %

The company has a market capitalization of $957.79 million, a price-to-earnings ratio of -45.09 and a beta of 0.79. The business has a fifty day simple moving average of $62.81 and a two-hundred day simple moving average of $66.25. The company has a quick ratio of 0.05, a current ratio of 0.04 and a debt-to-equity ratio of 0.74.

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Centerspace (NYSE:CSR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of ($0.15) by $1.36. Centerspace had a negative return on equity of 1.34% and a negative net margin of 4.34%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $65.96 million. Equities analysts expect that Centerspace will post 4.94 EPS for the current year.

Centerspace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 8th. Shareholders of record on Friday, March 28th were given a $0.77 dividend. The ex-dividend date was Friday, March 28th. This is a positive change from Centerspace's previous quarterly dividend of $0.75. This represents a $3.08 dividend on an annualized basis and a yield of 5.38%. Centerspace's payout ratio is -242.52%.

Institutional Trading of Centerspace

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Centerspace by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 2,594,366 shares of the company's stock worth $171,617,000 after acquiring an additional 195,629 shares in the last quarter. Barclays PLC grew its holdings in shares of Centerspace by 1,553.4% during the third quarter. Barclays PLC now owns 102,859 shares of the company's stock worth $7,249,000 after purchasing an additional 96,638 shares during the last quarter. Norges Bank acquired a new stake in shares of Centerspace in the fourth quarter valued at $4,768,000. Silvercrest Asset Management Group LLC raised its holdings in shares of Centerspace by 6.9% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 834,251 shares of the company's stock valued at $55,186,000 after buying an additional 54,204 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Centerspace by 28.5% during the 4th quarter. Northern Trust Corp now owns 230,816 shares of the company's stock worth $15,268,000 after buying an additional 51,259 shares in the last quarter. 79.00% of the stock is owned by institutional investors.

About Centerspace

Centerspace is an owner and operator of apartment communities committed to providing great homes by focusing on integrity and serving others. Founded in 1970, as of September 30, 2023, Centerspace owned interests in 71 apartment communities consisting of 12,785 apartment homes located in Colorado, Minnesota, Montana, Nebraska, North Dakota, and South Dakota.